A survey by UOB reveals that higher costs, including inflation, operating costs, and labor costs, have emerged as the primary challenges for Asian businesses in 2023. Despite these headwinds, a significant number of companies remain optimistic about the business environment, with Indonesia and Vietnam exhibiting the highest levels of positivity. In response to these challenges, businesses are prioritizing cost reduction, client acquisition, and digital transformation. Notably, more than 80% of respondents expressed interest in overseas expansion to enhance revenue and profitability, with Southeast Asia being the preferred destination.